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iii Section 4.8...................................................................... Surrender of Property at End of Term. .....................................................................................................................11 Section 4.9......................................................................................................................... No Abandonment. ......................................................................................................12 ARTICLE 5. CITY FINANCIAL ASSISTANCE ....................................................................12 Section 5.1... City Rehabilitation Grant. The City shall provide a grant in the amount of Five Million Two Hundred Thousand Dollars ($5,200,000) (the “City Rehabilitation Grant”) to Lessee for the costs of the construction and rehabilitation of the Improvements, upon the terms and conditions and for the purposes set forth in this Agreement. Provided that Lessee has complied with all conditions precedent to disbursement of the City Rehabilitation Grant as set forth in Section 5.3, the proceeds of the City Rehabilitation Grant (“City Rehabilitation Grant Proceeds”) shall be disbursed in accordance with Section 5.2 hereof. The City Rehabilitation Grant Proceeds shall be disbursed only for the purposes set forth in Section 5.2. In the event that Lessor determines that it is necessary to amend or supplement this Agreement in order to ensure compliance with the requirements of the different funding sources to be used for the City Rehabilitation Grant, the Parties shall make and execute appropriate amendments to this Agreement and/or the attachments hereto which are mutually acceptable to the Parties. ........................................................................12 Section 5.2.... Use and Disbursement of City Rehabilitation Grant Proceeds. The City Rehabilitation Grant Proceeds shall be used as follows: (a) a portion of the City Rehabilitation Grant Proceeds shall be used to pay for predevelopment costs of the Project incurred after the date of the Predevelopment Grant Agreement and prior to the date of this Ground Lease, to be funded at the commencement of construction and rehabilitation of the Improvements, and (b) a portion of the City Rehabilitation Grant Proceeds shall be used to pay for the cost of predevelopment expenses, construction and rehabilitation of the Improvements, to be funded through monthly draws. All disbursements shall be in accordance with a Project Budget which is submitted by Lessee to Lessor and approved by Lessor. The Project Budget may be revised from time to time with the mutual approval of the Parties. ...................................12 Section 5.3...........Conditions to Disbursement of City Rehabilitation Grant Proceeds. City’s obligation to fund the City Rehabilitation Grant and disburse the City Rehabilitation Grant Proceeds for the purposes of Section 5.2 above is conditioned upon the satisfaction of all of the following conditions .................13 Section 5.4........... Operating Subsidy Agreement. Lessor and Lessee shall enter into the Operating Subsidy Agreement, substantially in the form attached hereto as Exhibit G and incorporated herein, concurrently with the execution of this Ground Lease. ........................................................................................................13 DRAFT